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MONEY

Danish fuel prices at highest-ever level

The price of petrol in Denmark recently reached a record high, according to newly-released figures.

Danish fuel prices at highest-ever level

Filling your car up with fuel in Denmark is now more expensive than ever before.

The consumer price for petrol was last Thursday set at 13.99 kroner per litre, beating the previous all-time record from 2012.

The numbers were published by Drivkraft Danmark and reported by financial media Finans.

Motorists who drive diesel cars are also paying more than ever before, with diesel prices also having recently broken records.

Demand for oil is a key factor in the rocketing prices, an analyst said in comments given to Finans.

“Reopening [after coronavirus restrictions, ed.] and towering economic growth have send the demand for oil soaring. That has coincided with oil producing companies hesitating to increase production and there is therefore a cocktail pressing the price of oil up markedly,” Sydbank senior economist Søren Kristensen said.

“Danish consumers are now also feeling the effects of this. Especially those who refuel their cars with petrol or diesel,” Kristensen told Finans in a written comment.

High prices are expected to persist for the time being, despite a small decrease in the price of petrol at the end of last week, Finans writes.

Prices at Circle K petrol stations reached 14.09 kroner per litre on Tuesday morning, the highest since the company has kept records of prices.

Although prices measured in kroner are the highest recorded, inflation-corrected prices show that consumers in September 1982 paid the equivalent of 15.68 kroner per litre in modern terms, according to the Drivkraft Danmark figures.

High prices for petrol and diesel follow expensive energy bills and alarms over future price hikes at supermarkets in hitting pockets of consumers in Denmark in late 2021.

READ ALSO: Why customers can expect to pay more at Danish supermarkets

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MONEY

Boligstøtte: Who can claim Denmark’s national rent subsidy?

Residents of Denmark can in some cases apply for ‘boligstøtte’ (“housing support”), a reduction on their monthly rent.

Boligstøtte: Who can claim Denmark's national rent subsidy?

What is boligstøtte? 

Boligstøtte is a tax-free sum which people who live in rented housing can – in some cases – qualify for. It provides a subsidy to rent.

The subsidy is available to anyone who rents their home, provided the home meets certain criteria and the household income is under a certain level.

For example, your rental home must have its own kitchen (which would rule out student housing with shared kitchens, termed kollegier in Danish) and you must live permanently in the property.

Homeowners can also be entitled to apply for boligstøtte under certain circumstances. In such cases, the boligstøtte is a loan and not a subsidy, however.

The size of the subsidy – the amount of money you receive each month – depends on the overall income of the household (the total of the incomes of all wage earners at the address), the number of children and adults who live at the address, the amount of rent and the size of the house or apartment.

Boligstøtte is paid out on the first working day of each month.

How do I know if I’m entitled to boligstøtte?

Most people can apply for boligstøtte if they live in rented housing. There are a few living situations that can disqualify you, such as if you live with the owner of the property (including as a tenant) or if you own the property yourself and rent part of it.

You can, however, apply for the subsidy if you live in a property owned by your parents and pay rent to them (known as a forældrekøb – “parent purchase” – in Danish).

You can also apply for boligstøtte if you are sub-letting your house or flat, although the person sub-letting to you might have to change their address in order to avoid their income being taken into account in your application.

People who own their homes can receive bolistøtte (as a subsidy, not as a loan as detailed above) if they receive the state pension folkepension, or disability pension, førtidspension.

How and where do I apply?

You can submit an application via the borger.dk website at this link. The application platform will ask you to submit a rental contract and other documentation for your claim to be processed.

If you’re applying after moving to a new address, you must have registered your change of address with the national personal registry prior to applying. This can be done here. If you apply within 30 days of moving, the subsidy will be effective from the date you moved in. Otherwise, it will count from the first day of the following month from when you submit your application.

The processing time for the application can be up to seven weeks. You’ll receive a confirmation of your application via your Digital Mail inbox, and you will also receive notification here once the application has been processed.

By how much can I reduce my rent?

This depends on the various factors on which your eligibility is calculated – for some, you will not qualify to receive any subsidy at all.

There are five criteria upon which your eligibility – and the amount you receive – is calculated. They are the income of the household; the savings or fortune of people in the household; number of children and adults living at the address; size of the home (in square metres) and amount of rent paid.

You will receive more money if you have more children. For example, people who live in rented homes and are not receiving the state pension can get up to 1,039 kroner per month if they have no children; up to 3,654 kroner per month if they have 1-3 children; and up to 4,568 kroner per month if they have 4 children or more.

The borger.dk website has a tool on which you can estimate your boligstøtte here.

Source: borger.dk

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